Will Co-Sponsor Midwest Venture Capital Conference in April 2003
COLUMBUS, Ohio, Dec. 12 /PRNewswire/ -- Omeris (formerly Edison
BioTechnology Center), the Ohio Edison Center charged with accelerating
biosciences research and industry in the state, has announced that it has
joined as a founding member a consortium of eight Midwestern states that will
work together to promote and accelerate bioscience business activity in the
region. The new organization, which unites biotechnology organizations from
Ohio, Indiana, Illinois, Iowa, Michigan, Minnesota, Missouri, and Wisconsin,
will jointly sponsor, with the national Biotechnology Industry Association
(BIO), a major venture capital forum in the spring.
The BIO Mid-America Venture Forum, to be held April 3-4 in Chicago, is
expected to draw prominent venture capitalists from both coasts and from
around the world to view investment opportunities in emerging biosciences
companies from the eight participating states.
"Both the organization, and the venture capital conference are based on
the principle that there is strength in numbers," noted Omeris President
Anthony Dennis in announcing his organization's participation. "It's been
noted that, within a 300 mile radius of almost any point in the consortium's
geography, there is as much NIH funding and bioscience business activity as in
any of the areas that have traditionally been considered bioscience 'hot
spots'-California, the Boston area, and New Jersey, for example. This means
that there are significant opportunities being undervalued in our region.
"We have not received the attention from the capital community that these
regions do, primarily for logistical reasons. It's simply not as easy for
investors to visit ten cities, as it is to visit one or two. By banding
together, we can help overcome that disadvantage.
"The national BIO organization, which holds highly respected annual
investment meetings on the East and West Coasts, was very excited when the
consortium approached them because they have long realized that there is a
significant opportunity to invest in companies in mid-America but there was no
mechanism in place for them to pull the pieces together. We provided them with
the mechanism which will provide real visibility for our emerging companies
and leading entrepreneurs."
While details of the conference are still being finalized, each state is
guaranteed five presentation slots in the Chicago conference, allowing a
minimum total of 40 companies to present. Each state organization will
develop screening criteria and a selection process, and no company will be
able to participate without coming through a sponsoring organization, said
Dennis.
Omeris is a non-profit organization supported by the Thomas Edison Program
of the Ohio Department of Development. Its mission is to accelerate bioscience
discovery, innovation and commercialization of global value, driving economic
growth and improving quality of life in Ohio. Omeris is headquartered in
Columbus, with regional business development affiliates in Cleveland,
Columbus, Cincinnati and Athens.
SOURCE Omeris
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Related links:
http://www.omeris.org
CONTACT:
Anthony Dennis, Ph.D., President of Omeris,
+1-614-675-3686, x1266
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